Income funds slip, equity funds gain

SummaryIn July, income funds reported an outflow of more than R10,000 crore as the government doubled long-term capital gains tax to 20% in the Budget and extended the minimum tenure for long-term capital gains from one year to three years.

In July, income funds reported an outflow of more than R10,000 crore as the government doubled long-term capital gains tax to 20% in the Budget and extended the minimum tenure for long-term capital gains from one year to three years. However, equity funds recovered as they saw the highest inflows since January 2008. Gold ETFs have lost investor interest with steady outflows.